Zacks Investment Research Lowers The Descartes Systems Group Inc. (DSGX) to Hold

The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, September 7th.

According to Zacks, “Descartes Systems Group Inc. a leading provider of software-as-a-service logistics solutions. It is delivering results across the globe today for organizations that operate logistics-intensive businesses. Descartes’ logistics management solutions combine a multi-modal network, the Descartes Global Logistics Network, with component-based ‘nano’ sized applications to provide messaging services between logistics trading partners, book-to-bill services for contract carriers and private fleet management services for organizations of all sizes. These solutions and services help Descartes’ customers reduce administrative costs, billing cycles, fleet size, contract carrier costs, and mileage driven and improve pick up and delivery reliability. Descartes Systems Group Inc. is headquartered in Waterloo, Canada. “

A number of other brokerages have also weighed in on DSGX. BMO Capital Markets restated a “hold” rating and issued a $26.00 price objective on shares of The Descartes Systems Group in a report on Thursday, August 17th. Canaccord Genuity reiterated a “buy” rating and set a $28.00 price target on shares of The Descartes Systems Group in a report on Thursday, August 17th. ValuEngine upgraded The Descartes Systems Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Royal Bank Of Canada lifted their price target on The Descartes Systems Group from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 31st. Finally, BidaskClub upgraded The Descartes Systems Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The Descartes Systems Group currently has a consensus rating of “Buy” and a consensus price target of $32.06.

The Descartes Systems Group (DSGX) opened at 27.60 on Thursday. The Descartes Systems Group has a 12-month low of $20.20 and a 12-month high of $29.25. The stock has a market cap of $2.10 billion, a P/E ratio of 86.25 and a beta of 0.56. The stock has a 50 day moving average of $27.11 and a 200 day moving average of $24.51.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its quarterly earnings results on Wednesday, September 6th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The Descartes Systems Group had a net margin of 12.06% and a return on equity of 5.97%. The company had revenue of $57.29 million during the quarter, compared to analyst estimates of $55.74 million. On average, equities research analysts anticipate that The Descartes Systems Group will post $0.40 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DSGX. Mawer Investment Management Ltd. grew its position in The Descartes Systems Group by 24.8% in the 1st quarter. Mawer Investment Management Ltd. now owns 3,712,275 shares of the technology company’s stock valued at $150,755,000 after acquiring an additional 737,395 shares in the last quarter. Fiera Capital Corp grew its position in shares of The Descartes Systems Group by 87.3% during the second quarter. Fiera Capital Corp now owns 1,573,855 shares of the technology company’s stock worth $38,223,000 after buying an additional 733,678 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in shares of The Descartes Systems Group by 32.6% during the second quarter. Conestoga Capital Advisors LLC now owns 2,118,060 shares of the technology company’s stock worth $51,575,000 after buying an additional 521,220 shares in the last quarter. FMR LLC grew its position in shares of The Descartes Systems Group by 391.7% during the first quarter. FMR LLC now owns 637,710 shares of the technology company’s stock worth $14,611,000 after buying an additional 508,020 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of The Descartes Systems Group by 122.7% during the first quarter. Morgan Stanley now owns 633,028 shares of the technology company’s stock worth $14,496,000 after buying an additional 348,754 shares in the last quarter. 79.10% of the stock is owned by institutional investors.

The Descartes Systems Group Company Profile

Descartes Systems Group Inc (Descartes) is a Canada-based global provider of federated network and global logistics technology solutions that help its customers make and receive shipments and manage related resources. Its network-based solutions, which primarily consist of services and software, connect people to their trading partners and enable business document exchange (bookings, bills of lading, status messages); regulatory compliance and customs filing; route and resource planning, execution and monitoring; access and leverage global trade and restricted party data; inventory and asset visibility; rate and transportation management, and warehouse operations.

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